Apparently, spending $50,000 a year on a Boston University education is not what it used to be. The notion that graduating students have given up looking for jobs is shocking, but so is the sorry state of the national job market.’
The Labor Department reported that 2.6 million jobs were lost in 2008, a loss that the United States hasn’t seen since 1945. Graduates and other Americans seeking work are looking toward President Barack Obama to get the nation out of this financial mess.’ His proposed $819 billion stimulus package may drive up the national debt, but will also give this country much needed public works projects, which equals more jobs.
College graduates in search of employment aren’t the only people who stand to benefit from the economic stimulus; it also contains provisions that will help undergraduates and high school seniors struggling to afford college education. The ‘Hope Tax Credit,’ which currently offers up to $1,800 toward college tuition, is only available to a narrow range of families. Obama’s proposal will expand the availability of the credit to more families with middle and lower incomes, while also increasing the size of the credit to $2,500.’ Furthermore, passage of the stimulus proposal will allow students to spend the credit on more than just tuition, and use it toward room and board, books and fees.
The stimulus package, which is the centerpiece of Obama’s plan to save the U.S. economy, passed in the House of Representatives on Wednesday, despite the fact that not a single Republican supported the measure. In the Senate, however, Republicans will have more power to tie up the bill through procedural methods, wasting valuable time.
It is important for Republicans to remember that Obama won the presidential election partly because Americans trusted him to right the economy that the previous Republican president had run into the ground. This is not to say that Republicans should rubber stamp every proposal that Obama wants Congress to pass.’ However, congressional Republicans have had plenty of time to give their input on the stimulus package, and need to realize that the bill will be passed eventually, with or without their support.
This is the time of year when students and their families are filling out financial aid forms and filing their taxes. They need this stimulus package to be passed by Congress immediately, as do those who are in desperate need of work. Not taking action on this legislation will only worsen the economic crisis, and Senate Republicans must work with President Obama to ensure that does not happen.